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14 Nov 2014
EUR/JPY trades with a bullish bias - FXStreet
FXStreet (Guatemala) - Valeria Bednarik explained that US stocks gave little clues to yen traders overnight but she is bullish on the EUR/JPY.
Key Quotes:
“The main world indexes remained in tight ranges, but managed anyway to advance intraday to fresh all time highs, limiting the downside in yen crosses. US yields ticked higher, with a 30Y auction ending at 3.092%, nothing outstanding but still dollar positive and therefore yen negative”.
“As for the EUR/JPY cross the 1 hour chart shows little changed from previous updates, with price holding above flat moving averages, and indicators directionless in positive territory”.
“In the 4 hours chart momentum diverges lower but holds above its midline, whilst RSI aims higher around 65”.
“Despite the lack of technical signals, the upside continues to be favored, with some further gains above 144.70 required now to see a quick test of 145.12, this year high, followed then by 145.70 area, December 2013 monthly high”.
Key Quotes:
“The main world indexes remained in tight ranges, but managed anyway to advance intraday to fresh all time highs, limiting the downside in yen crosses. US yields ticked higher, with a 30Y auction ending at 3.092%, nothing outstanding but still dollar positive and therefore yen negative”.
“As for the EUR/JPY cross the 1 hour chart shows little changed from previous updates, with price holding above flat moving averages, and indicators directionless in positive territory”.
“In the 4 hours chart momentum diverges lower but holds above its midline, whilst RSI aims higher around 65”.
“Despite the lack of technical signals, the upside continues to be favored, with some further gains above 144.70 required now to see a quick test of 145.12, this year high, followed then by 145.70 area, December 2013 monthly high”.